A primary school teacher identified Roseline Uche Egbuha, three staff of a new generation bank and a lawyer have been arrested by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) for allegedly laundering N550 million.
According to Rasheedat Okoduwa, the agency spokesman, Egbuha, a teacher with Ozala Primary School, Abagana, Anambra State, was earlier arrested in October 2019 by ICPC and granted administrative bail, after an investigation into her financial transactions consequent upon the receipt of a petition, had shown her involvement in money laundering.
Also in ICPC custody are a Compliance officer of the bank, Beckley Ojo, an Operations Manager, Chisomaga Daly-Okoro, a staff of the legal department of the bank, Sarah Ugamah, and an external lawyer to the bank, Nsikak Udoh. They were alleged to have connived with Egbuha to perpetuate the fraud.
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ICPC, in a series of investigations, found that she had N539.5 million in her account alleged to have been proceeds of money laundering from Malaysia. She had told investigators that the money belonged to her 24-year-old son, Chidozie Fabian Ejeaka, whose whereabouts could not be established.
A Post No Debit (PND) was placed on the account to allow the ICPC to carry out further investigations, while a case of forfeiture of the suspected proceeds of crime was instituted against her in a court of law. However, Egbuha approached another court to challenge the restriction placed on her account, as well as ask for the enforcement of her fundamental human right.
Her fresh arrest with the staff of the bank and the lawyer was due to their alleged connivance in lifting the restriction placed on her account and the subsequent transfer of N550 million (principal sum and interest) into the account of FBI Legal, a company owned by Egbuha’s lawyer, Ferdinand Isa.
The Commission said the money was transferred on 4th June 2020, the same day a court order was said to have been obtained. The money was split and moved into multiple bank accounts owned by Bureau de Change operators and private individuals.
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